Property Held in Trust. All money and securities conveyed to or held by the Trustee at any time pursuant to the terms hereof and of each Supplemental Indenture shall be and hereby are assigned, transferred and set over unto the Trustee in trust for the purposes and under the terms and conditions hereof and of each Supplemental Indenture.
Property Held in Trust. If (i) any money or other Property (other than the Permitted Payments that Subordinated Creditor is permitted to receive and retain under Section 7 preceding) is received by Subordinated Creditor for application on the Subordinated Debt or (ii) any money or other Property shall be disbursed to Subordinated Creditor at any time after (a) Sunrock’s delivery to Subordinated Creditor of notice of an Event of Default or Potential Default and prior to Sunrock’s delivery of notice that all Events of Default and Potential Defaults have been cured or otherwise waived by Sunrock or (b) during any time when the Excess Availability shall be less than $750,000.00, Subordinated Creditor will hold such money and other Property in trust for Sunrock and, promptly after receipt thereof and written request from Sunrock, deliver such money and other Property to Sunrock. Notwithstanding the foregoing, in the event disbursement of a Permitted Payment results in the occurrence of an Event of Default, Potential Default or Excess Availability less than $750,000.00, Subordinated Creditor will hold such money or other Property disbursed in such Permitted Payment in trust for Sunrock and, promptly following Sunrock’s request, deliver such money or other Property to Sunrock. No payment or distribution to Sunrock pursuant to the provisions of this Subordination Agreement shall entitle Subordinated Creditor to exercise any rights of subrogation in respect thereof until the Senior Debt shall have been indefeasibly paid in full in cash.
Property Held in Trust. The consigned art and proceeds of any sale thereof shall be held in trust for the benefit of the Lender.
Property Held in Trust. To the extent that Buyer receive physical possession of any property which is not a Asset hereunder, Buyer agree to hold such property in trust for the owner of such property and to return such property to its owner upon request and proof of ownership from such owner.
Property Held in Trust. All moneys and securities held by the Trustee at any time pursuant to the terms of this Trust Agreement shall be held by the Trustee in trust for the purposes and under the terms and conditions of this Trust Agreement.
Property Held in Trust. The Trustee hereby declares that it will hold and disburse all contributions, monies, contracts and other property in trust for the uses and purposes set forth in this Trust Agreement and in accordance with the Plan. Any such contributions to the Trust Fund shall be irrevocable.
Property Held in Trust. All money and seeurities conveyed to or held by the Trustee, except for amounts held in the Corporation Expense Fund, at any time pursuant to the terms hereof and of each Supplemental Indenture shall be and hereby are assigned, transferred and set over unto the Trustee in trust for the purposes and under the terms and conditions hereof and of each Supplemental Indenture. The Trustee shall hold all money in the Corporation Expense Fund as the agent of the Corporation and shall not disburse amounts therefrom except pursuant to the written instructions of an Authorized Officer of the Corporation.
Property Held in Trust. All property transferred, pursuant to Section 2.03 of this agreement, to the Memorial Trust Committee (which is provided for hereinafter) as Trustee of the Fund, and all income or gain from such property, shall be held by the Trustee, in trust, and shall be managed, invested and disbursed or distributed as provided in this agreement. Title to all property held in the Fund shall at all times be vested in Westminster Presbyterian Church and Society, subject to the terms and conditions of this agreement. The Fund shall not be used to supplant ordinary stewardship of resources by the Session and members of the Church, nor the congregation’s ongoing financial support of the Church’s operating budget.”
Property Held in Trust. All moneys and securities conveyed to or held by the Trustee, except for amounts held in the Arbitrage Rebate Fund and the Corporation Expense Fund, at any time pursuant to the terms hereof and of each Supplemental Indenture shall be and hereby are assigned, transferred and set over unto the Trustee in trust for the purposes and under the terms and conditions hereof and of each Supplemental Indenture. The Trustee shall hold all moneys in the Arbitrage Rebate Fund and the Corporation Expense Fund as the agent of the Corporation and shall not disburse amounts therefrom except pursuant to the written instructions of an Authorized Officer of the Corporation.
